Number of single-family homes for sale remained at record monthly lows and condominiums for sale decreased for the first time in seven months.
by Eric Berman - firstname.lastname@example.org - 781-839-5507
– September 25, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for single-family homes and condominiums decreased year-over-year from August of 2018. This month, single family closed sales decreased almost four percent, and median price increased almost a three percent. In addition, condominium closed sales decreased nine percent, and median price increased three percent, compared to the same time last year.
This month had the lowest number of single-family homes for sale in the month of August since MAR began reporting the data in 2004. The number of condominiums for sale also decreased after seven straight months of year-over-year inventory increases.
August 2019 Closed Sales:
- Closed sales have been down or flat for eight out of the last 12 months.
- Median prices have been up or flat for 35 out of the last 36 months.
- $430,000 is the fourth highest median home price since MAR has been tracking the data.
- Closed sales have been down or flat for 10 out of the last 12 months.
- Median prices have been up or flat for 32 out of the last 36 months.
- $400,000 is the fourth highest median home price since MAR has been tracking the data
“Median home prices were once again over $400,000 in August,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “This means we had another difficult month for first-time homebuyers who were looking for a home they could afford in Massachusetts.”
August Inventory and Days on Market:
- 90th time in the last 91 months of year-over-year inventory decreases.
- Lowest number of homes for sale in the month of August since MAR began reporting in 2004.
- The number of condominiums for sale decreased after seven straight months of increases in the last 41 months.
“Seven straight months of condo inventory going up was a good run,” said Meczywor. “Hopefully, this was just a one-month blip and the positive trend will continue.”
About the Massachusetts Association of Realtors®:
Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 25,000 members. The term Realtor® is registered as the exclusive designation of members of the National Association of Realtors® who subscribe to a strict code of ethics and enjoy continuing education programs.
Editors and reporters: Please note that the term Realtor® is properly spelled with an initial capital “R”, per the Associated Press Stylebook.